Viyash Scientific Limited concluded its 41st Annual General Meeting (AGM) on Tuesday, August 11, 2026, with shareholders approving key governance resolutions including the adoption of financial statements for FY26 and the re-appointment of board members. The meeting, held via Video Conference (VC) / Other Audio Video Means (OAVM), commenced at 4:00 P.M. IST and concluded at 4:55 P.M. IST, in compliance with Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) circulars.

The proceedings were chaired by Dr. Kamal Sharma, Independent Director and Chairperson, who joined from the UK. Other key attendees included Dr. Haribabu Bodepudi, Managing Director & Group CEO; Mr. Rajaram Narayanan, Wholetime Director & CEO-Animal Health; Mr. Srinivas Vasireddy, Wholetime Director; Mr. Milind Sarwate, Independent Director; Ms. Revati Kasture, Independent Director; Mr. Anuj Poddar, Non-Executive Director; Mr. Ramakant Singani, Chief Financial Officer; and Ms. Yoshita Vora, Company Secretary. Representatives of the statutory and secretarial auditors were also present. Non-Executive Directors Amit Jain and Abhiroop Jayanthi were unable to attend due to prior commitments.

Key Resolutions Approved

Shareholders voted on six items comprising ordinary and special business. The resolutions were put to vote via remote e-voting and e-voting during the meeting. The details of the resolutions are as follows:

Dr. Haribabu Bodepudi provided a detailed performance overview for the year, highlighting key developments and strategic focus areas. He subsequently addressed queries raised by speaker members who had registered to speak at the AGM. Ms. Yoshita Vora confirmed the presence of the requisite quorum and informed members that statutory registers and the Secretarial Auditor's certificate on ESOP compliance were available for electronic inspection.

Governance and Compliance

The company emphasized strict adherence to regulatory guidelines throughout the meeting process. Members were placed on mute by default to ensure smooth conduct, with specific slots allocated for registered speakers. Technical assistance was made available via a helpline provided in the AGM Notice. The Scrutinizer for the e-voting process is expected to submit his report after scrutinizing votes cast through remote e-voting and insta-voting. Results will be announced within statutory timelines and uploaded to the company website.

The adoption of the Audited Financial Statements for the Financial Year ended March 31, 2026, marks the formal closure of the fiscal cycle’s reporting requirements. The re-appointment of Dr. Haribabu Bodepudi and Mr. Rajaram Narayanan ensures continuity in leadership for the Managing Director & Group CEO and Wholetime Director & CEO-Animal Health roles, respectively. The ratification of the Cost Auditor’s remuneration for both FY25-2026 and FY26-2027 reflects ongoing compliance with cost accounting standards. The special resolution regarding the new Articles of Association indicates a structural update to the company’s governing documents, subject to shareholder approval.

What the Numbers Show

While the AGM summary does not disclose specific financial metrics such as revenue or profit figures, the approval of the audited financial statements without qualification from the Statutory Auditors suggests a clean audit opinion. The focus on ratifying Cost Auditor remuneration for two consecutive years highlights the company’s commitment to maintaining robust cost accounting practices, which is critical for transparency in manufacturing and scientific sectors. The seamless conduct of the AGM via VC/OAVM demonstrates the company’s preparedness for digital shareholder engagement, ensuring accessibility for investors across different locations, including international participants like Dr. Kamal Sharma joining from the UK.

Viyash Scientific reported a significant acceleration in profitability for the first quarter of FY26, with consolidated net profit after tax surging 115% year-on-year to ₹792.90 million. The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, during a meeting held on August 11, 2026. Revenue from operations expanded 19.5% to ₹9,463.60 million, while EBITDA rose to ₹1.48 billion from ₹1.18 billion in the corresponding period last year, with EBITDA margin expanding to 18.9% from 14.98%. This performance reflects improved operational efficiency and strong top-line growth across its pharmaceutical portfolio.

The financial results were reviewed by Statutory Auditors SRBC & Co LLP in accordance with Standard on Review Engagements (SRE) 2410 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The comparative figures for the previous year have been restated to reflect the Composite Scheme of Amalgamation with Viyash Life Sciences Private Limited and other entities, sanctioned by the National Company Law Tribunal (NCLT) on November 18, 2025. The amalgamation was accounted for using the pooling of interest method under Appendix C of Ind AS 103.

Q1FY26 Financial Highlights

The following table outlines the key consolidated financial metrics for the quarter:

Standalone revenue stood at ₹3,536.90 million, up from ₹3,281.80 million in Q1FY25, while standalone net profit rose to ₹209.20 million from ₹173.00 million. Total expenses increased to ₹8,422.60 million from ₹7,488.90 million, driven largely by higher cost of materials consumed and employee benefits expenses.

Strategic Approvals and Capital Allocation

Beyond the financial results, the Board approved several strategic initiatives aimed at long-term growth. The company allotted 1,030,775 equity shares to employees under the Viyash Scientific Limited Employee Stock Option Scheme 2026 at an exercise price of ₹101 per share. This allotment increased the issued and paid-up capital to ₹879.81 million. The grant of 13.09 million stock options resulted in an incremental non-cash expense of approximately ₹193 million recognized under employee benefits.

Additionally, the Board authorized the incorporation of a wholly owned step-down subsidiary in Vietnam through Alivira Animal Health Limited (AAHL). The new entity will focus on importing, registering, and marketing animal health products and phytogenic solutions in the Vietnamese market, with an initial investment cap of USD 400,000. This move signals Viyash Scientific's intent to deepen its footprint in emerging Asian markets.

Strengthening Subsidiary Capital Structure

In a move to optimize its balance sheet, the Board approved the subscription of equity shares in its wholly owned subsidiary, Alivira Animal Health Limited (AAHL), via a rights issue. The consideration of up to ₹400.02 million will be adjusted against existing intercompany loans extended by Viyash Scientific. This conversion is designed to strengthen AAHL's capital structure and reduce its interest burden without requiring fresh cash infusion from the parent company. The indicative timeline for completion is August 30, 2026.

What the Numbers Show

The significant divergence between revenue growth (19.5%) and profit growth (115%) highlights improved operational efficiency and margin expansion in Q1FY26. The absence of exceptional items related to the amalgamation scheme in the current quarter, compared to ₹12.50 million in costs during Q1FY25, further contributed to the bottom-line surge. However, investors should note the incremental non-cash expense of approximately ₹193 million recognized under employee benefits due to the ESOP grant, which may impact future earnings per share calculations as these vest.